Get More Benefits From Networking
ARE YOUR DREAMS BIG ENOUGH?
Get More Benefits From Networking
A major financial planning myth was a lie. Spending was supposed to go down in retirement.
Their justification seemed reasonable. It came from multiple sources – financial magazines and financial planners.
There would not be a need to contribute to a retirement plan. And we would no longer be paying Social Security tax on earned income because we wouldn’t be working.
And if our house is paid off that would eliminate another major expense.
Medical care is one of the fastest rising costs in our economy. Medicare might reduce some medical costs, but eligibility does not start until age 65.
Here’s the good news.
If you have invested well, then you can enjoy higher discretionary spending instead of having to scrimp and save.
That can mean more trips with friends and family.
Traveling first class instead of coach.
Giving more time and resources to your favorite mission or charity.
HOW DO WE GET THERE?
First, let’s start by changing our thoughts from retirement to FIRE – Financial Independence, Retire Early. This is not about retiring and doing nothing, but rather taking control of your finances, becoming financially independent, and having more choices with how to spend your time. If you want to work, it is by choice and not a necessity.
So how do we get there?
STEP ONE. Written Vision
Write down your vision of what you want your life to look like in the future.
That may be five years from now, maybe more, maybe less.
What are your dreams? If money were not a concern, how would you want to spend your time? What would you want to do? Travel with family and friends? When do you want to accomplish them? Is there a mission you want to accomplish?
STEP TWO. Written Plan
Write down your plan to achieve your vision
What will each of the activities cost? When would you like to do them? If you add up all the costs it might be overwhelming. But if you spread them out over time they will become more achievable.
Just as Rome wasn’t built in a day, you don’t have to take on all the activities at once.
My wife and I love cruising, but we are not ready for an around the world cruise. However, we do enjoy watching for bargains and taking cruises to the Caribbean. It’s a fun way to explore ports and learn where we might want to spend more time on a future vacation. And taking longer cruises helps us learn what it is like when being away from home for longer periods of time.
STEP THREE. Strategic Networking With Other Investors
There are a number of ways that we network. Some are at traditional investor meetup groups, such as the Central Florida Realty Investors, or CFRI. These may be large groups of people with many random encounters. Or they could be smaller subgroups with a specific focus such as landlording, short-term rentals, or commercial property investments.
Another is through a mastermind group. This is a small group of people that meet regularly, providing a deep dive into subjects of interest or someone’s business. People may have different backgrounds and live in various areas of the country, so they are more free to discuss issues that are competitive in a local market.
One of the most obvious advantages to networking is getting potential solutions to solve problems. Maybe it’s finding an investor-friendly lender or title company for your closings. Or how to deal with a problem tenant. Or where to find affordable insurance for rental properties. Regular meetings with a networking group provide opportunities to seek ideas from other investors.
A benefit that I’ve seen in smaller groups, particularly mastermind groups, is to accomplish something we previously had not considered. Someone inspires us to think bigger. In a group recently, someone said that, “If your vision doesn’t scare you, then it’s not big enough.” That “bigger” might be cash flow, or a mission that you are passionate about.
Sometimes these networking events bring people together who become financial friends. They may do deals together that are mutually beneficial. Or provide referrals. They get to know each other through regular contact.
We want to help you. Attune Investments has resumed our monthly networking for people who invest in multi-family property. This includes other service providers such as lenders, brokers, and property managers. We discuss investing in multi-family real estate, the current market, and how to solve current issues.
We meet on the third Wednesday every month at 12:00 Eastern. On Zoom so you can join us from wherever you happen to be.
The next meeting of our Meetup is this Wednesday, September 20, 2023.
Here’s a Zoom link for our meetup this month:
Topic: Multifamily Meetup
Time: Sep 20, 2023 12:00 PM Eastern Time (US and Canada)
Join Zoom Meeting
Meeting ID: 815 8466 3439
Dial by phone • +1 305 224 1968 US
I can’t make promises. I have seen that when people write down their vision of what they want their life to be, then they are much more likely to experience it. We are here to help you achieve and live your vision. And we hope to see you at our next meetup on Zoom.
HELP US GET TO KNOW YOU BETTER
Do you already have a written vision? Or a networking opportunity that you would like to share with us?
Attune Investments provides a better return for our investors. And we make a positive impact in people’s lives and in our world.
If you want to learn more about how others are investing with us then we invite you to join our club and request a conversation with us. See below.
Through the power of a syndication partnership with other investors like you, working with managing partners who are experienced in managing apartment complexes, you can own multifamily assets.
Or you can choose to loan money, get in with a clear return, and get out earlier.
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Mike is a retired aerospace engineer with a passion for real estate investing and teaching financial literacy. He lives with his wife in Daytona Beach, Florida.